China’s economy has come up for air, just a little. A bit of pep in recent Chinese numbers is encouraging. At least as important as the short-term bounce, though, is the long-term trajectory. The Middle Kingdom may lose its exceptionalism and start looking more like the US and Europe in ways that seemed barely conceivable during the 1990s and the ...

Financial regulators have done a lot to reform the derivatives markets that helped turn the financial crisis of 2008 into a global disaster. But their work is unfinished — and there’s even a danger that, in one way, they might have made things worse. Derivatives are bets on the performance of something else, such as stocks, interest rates or creditworthiness. ...

There’s one clear favourite in the world’s biggest election, which runs for six weeks: incumbent Prime Minister Narendra Modi. Buoyed by his personal popularity, Modi’s ruling Bharatiya Janata Party isn’t even pretending to offer dramatic new programs if it returns to power. Its election manifesto, released earlier this week, was a relatively uninspiring document — a few populist promises to ...